Royals Acquire Carlos Peguero, Designate Everett Teaford

2:35pm: The deal is for cash, tweets Jon Heyman of CBSSports.com, meaning that no players will head back to Seattle in exchange for Peguero.

12:50pm: The Royals announced that they've acquired outfielder Carlos Peguero from the Mariners in exchange for a player to be named later or cash considerations. Left-hander Everett Teaford has been designated for assignment in order to clear a roster spot, according to the press release.

The 26-year-old Peguero offers tremendous left-handed power but struggles against left-handed pitching and has long had a serious problem with strikeouts. He batted .260/.321/.460 in 505 Triple-A plate appearances last season and boasts a career .230 ISO (slugging minus batting average) in the minor leagues. However, Peguero has batted just .195/.242/.380 in the Majors. Baseball America ranked him among Seattle's Top 30 prospects on four occasions but always expressed reservations about his plate discipline. BA noted he has surprising speed and athleticism for his size and could be an average corner outfield defender.

Teaford, 30 in May, has a career 4.25 ERA with 5.3 K/9, 3.0 BB/9 and a 43.8 percent ground-ball rate in 106 big league innings. The former 12th-round pick saw just one inning in the Majors this season but has a strong track record at the Triple-A level where he's posted a 3.27 ERA with 161 strikeouts against 59 walks in 168 innings of work.